Astute Financial Services Exchange, which was started in 2000, is an electronic information exchange company. Astute is a collaboration effort between the major life assurers in South Africa designed to provide a single point of entry for intermediaries such as ourselves to obtain updated data on our clients’ portfolios as preparation for periodic portfolio reviews.
We have used Astute’s services since its inception and our access to information has required our clients’ written permission by way of an appointment letter. In order to modernise and speed up this process, Astute is introducing a “digital consent” process whereby the written consent will be replaced by a process activated by SMS. Such consent is valid for 12 months unless cancelled by the client earlier.
We intend rolling out the new format with effect from 1 September. If however you have any queries at all regarding this innovation, please speak to your Maximus adviser or to Brad Hood at 011 656 2910 – Bradley@maximuswm.co.za